---
schema_version: "secwatch.filing_event.v1"
accession: "0001280784-25-000042"
form_type: "8-K"
ticker: "HTGC"
cik: "0001280784"
company_name: "Hercules Capital, Inc."
filed_at: "2025-10-30T23:59:59+00:00"
generated_at: "2026-05-17T01:15:31.962567+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Hercules Capital Q3 2025: record total investment income $138.1M, NII $0.49/sh, NAV up 1.8% to $12.05

## Summary
- Record total investment income $138.1M (+10.3% YoY); NII $88.6M ($0.49/sh) covers base distribution 122%.
- Record new debt/equity commitments $846.2M (+96.5% YoY) and record fundings $504.6M (+85.5% YoY).
- NAV per share $12.05 (+1.8% QoQ); assets under management $5.5B (+20.7% YoY).
- Declared Q3 total cash distribution $0.47/sh ($0.40 base + $0.07 supplemental), payable Nov 19, 2025.
- Moody's upgraded Hercules to Baa2; non-accruals increased to 2 loans ($52.2M cost, 1.2% of portfolio).

## SEC filing metadata
- accession: 0001280784-25-000042
- form_type: 8-K
- ticker: HTGC
- cik: 0001280784
- company_name: Hercules Capital, Inc.
- filed_at: 2025-10-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1280784/000128078425000042/0001280784-25-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1280784/000128078425000042/htgc-20251028.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001280784-25-000042
- JSON: https://secwatch.observer/filing/0001280784-25-000042.json
- Plain text: https://secwatch.observer/filing/0001280784-25-000042.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.